About the Company
Lennar Corp, launched in 1954, is among the leading home-builder companies in the United States. Currently, this company operates in 21 states and has its headquarters at Fontainebleau in Florida. It owns Rialto Capital Management, which sponsors 6 private equity funds
This company is a prominent name in the Consumer Discretionary sector and is known for building affordable retirement homes and move-ups in the communities. It also offers multiple financing services including - mortgage financing, investment management, title insurance and commercial real estate.
Lennar Multifamily Communities, Village Builders, CalAtlantic Homes, Lennar International, Friendswood Development Company, Lennar Insurance Agency, SunStreet Energy Group and Lennar Title are among the entities that make up Lennar Corp.
In 1971, Lennar Corp became a public company, and in the next year, it was listed on the New York Stock Exchange under the ticker symbol LEN. In 2005, this company was included under the S&P 500 index.
Lennar Corp acquired Mastercraft Homes in 1977 for $2 million along with Womack Development Company. Subsequently, this company expanded its mortgage financing business after forming the Universal American Mortgage Company in 1981. It acquired the Richmond American Homes of Florida for $18 million in 1989.
In 1992, this company purchased Amerifirst's real estate portfolio worth $1 billion by entering into a joint venture contract with Morgan Stanley. It also acquired the Westinghouse loan portfolio worth $2 billion by forming a joint venture agreement with Lehman Brothers.
In the year 2000, it acquired the U.S. Home for $476 million (cash and stock), which helped to double its size. After Lennar Corp merged with CalAtlantic Homes in 2017, it emerged as the United States' largest home construction company. In the same year, it acquired WCI Communities.
This company also purchased Newhall Land and Farming Company in 2004 for $990 million. In 2019, it secured the 154th position on the Fortune 500 list owing to its innovations. For instance, in 2017, it launched the first Wi-Fi certified home designs in the world. Lennar Corp was recognized as the 'Best New Home Developer' for two consecutive years in 2019 and 2020 by the Reader's Choice Awards.;